Oakley Capital Investments sold its stake in Emesa Group Holdings to Cyrte Investments for 95m euros, the Bermudian-based investor said Friday.
The company's fund, Oakley Capital Private Equity (Limited Partnership), originally purchased Emesa in March 2011 for a consideration of €35m.
The transaction represents a 3.6 times gross return for the fund in less than two years of ownership, with an internal rate of return in excess of 100%.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
"Emesa has been another successful investment for the Limited Partnership," Director of Oakley, Peter Dubens, said.
"This is a significant disposal for the fund and delivers an attractive return to investors after a holding period of less than two years. It has been a pleasure for the Oakley team to work with the management of Emesa, and we wish them continued success with their new partners."
Shares dropped 0.18% to 140.00p at 10:52 Friday.
RD
-
8 of the best houses for sale with annexesThe best houses with annexes – from a period property in the Lake District to a 13th-century house with a two-bedroom annexe in Saltwood, Kent
-
Zelenskyy moves to appease Donald Trump – what happens now?Ukraine’s president Volodymyr Zelenskyy is conceding ground to secure the least-worst deal possible, says Emily Hohler
